King of Bling Going To The Clink

(antiMusic) Rappers and Divas are gonna have to go elsewhere to stock up on their ridiculous bling as Jacob the Jeweler is out of business. The "King of Bling" who has supplied stars ranging from Notorious B.I.G. to Madonna, Kanye West and Elton John is going to jail. PR-Inside has the story:

The celebrity jeweler known in the hip-hop world as "Jacob the Jeweler" plans to offer a guilty plea in a deal with prosecutors over a federal money laundering case, a spokesman said Wednesday.

Jacob Arabov, a Russian immigrant, will plead guilty at an afternoon hearing in Detroit to two counts of making false statements to investigators, said Gerald McKelvey, a spokesman for Arabov. He is expected to face between 37 and 52 months behind bars. In exchange, prosecutors are expected to drop money laundering charges in the case, McKelvey said. - more on this story

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